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You have certainly missed a lot of what has been happening!!!
It's a creative thought!!!
Hope WMI will be bought by JPM.
You should consult a lawyer!
Well, I put more money than that before the bank was seized. I certainly believe that the common shareholders have rights, but the fact is that FDIC seized the bank.
I think that the best thing that can happen to commom shareholders of WMI is a buyout by JPM. My guess is that there is a 50% chance that this will happen and I have no idea what price should be paid.
Since I invested before the bank's seizure and avaraged my pps down later on, I will stay till the end. I wish you luck with your decision whether to invest.
You will only have your answers after all that is finished!
In my country there is a very significant restriction for a bank to hold real estates. Is it the same in the US? Because if it is, we can have an idea of what may be disputed by JPM and WMI.
Indeed!
I wonder who will investigate the FBI!?
OK! Thanks!
It makes sense.
I read it and did not find anything about fraudulent conveyance or any lawsuit agains JPM or the FDIC.
It seems to me that WMI wants to establish that there are material doubts as to what JPM acquired from FDIC. It can be that WMI wants to force JPM to buy WMI, to avoid what may be a very complicated legal battle.
In any case, that is just my opinion.
As far as I understand fraudulent conveyance is the transfer of property for little or no consideration, made for the purpose of hindering or delaying a creditor by putting the property beyond creditor's reach.
How does this fit in this case? Any thoughts?
Noone knows what the short term reserves to the market. What I know is that it is a very good time to buy the good US companies!!!
I agree. It is time to buy the good US companies with little or no debt and good long term prospects.
The US is an ally of Japan and Germany! Anything is possible when common interests exist.
Thanks for the answer. I agree with you.
In addition, perhaps TPG is not fighting openly now because they think it is still better to leave the door open for a deal with JPM.
What do you think of TPG's reaction to the seizure of WAMU? They said that they wanted to worke to save WAMU, but the OTS had a different idea and TPG regreted its loss.
They probably are doing something to recover their money or they somehow settled the issue with JPM. Any thoughts?
Excellent summary. I remember all that and invested in Washington Mutual because it was in the United States.
I will be very surprised, again, if this whole thing is not resolved in a descent manner!
It's a good advice! I'll do that.
My average price is US$ 1.9. I bought a bit more after WMI went bankrupt and I think I'll buy more!
Cheers.
It makes a lot of sense! Question is time and price.
I agree. What I mean is that it may not be anything important! Anyway, who knows?
I don't think it tells anything per se.
Thanks! Appreciate your comment!
Not for me! I invested in this thing before the seizure by FDIC.
It's strange that WMI hired Shearman & Sterling for tax litigation purposes but, apparently, they quit. The only explanation I see is that JPM was willing, or at least considering, to buy WMI and something happened.
I say that because Shearman & Sterling would not put itself in a conflict situation with JPM.
I agree!
I generally agree with you. I just don't know if the NOL amounts to US20 Bi.
Totally agree. He did it before when he was with Travellers.
Maybe Dimon is missing a good opportunity to keep very quiet. JPM also got a lot of money in help from the government and God knows what else there is in there.
In any case, by speeking Dimon can be helping WMI's cause!
I hope it falls further. Plese go on with your work and help us buy more.
Don't forget to do the same! Thank you!
He doesn't have anything against it. Probably, he wants to buy cheaper and profit from it.
In the end, his opinions and warnings will have no effect in the outcome of it.
Remember that days before the seizure of WM Bank they signed a MOU with the OTS, providing for guidelines for its activities in the next 5 years!
As a lawyer ( non US lawyer ) I smell a big lawsuit for losses and damages, against the banking regulators!!!
I read. It is obviously big!!!
Did you analyze the issuance documents of WMI preferred shares to say so?
More from FED and JP Morgan:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aJUjPAnanWhw&refer=home
Does anyone have the text of the court decision on it? Did the judge uphold the automatic stay of any setoffs by the the IRS, US and etc?
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I don't know if this article was posted before, but it's worth reading about the federal lawsuit against the FED and more:
http://www.bloomberg.com/apps/news?pid=20601109&sid=alINrCmj3dgU&refer=home
I read what PJM and WMI said in court about the assets of the bank and the holding being comingled. JPM says there are not significant things to discuss and WMI says there are material issues, including liabilities.
One of them is bluffing in this poker game and it is JPM that is asking for more time from the court!